Changes for page ICT Development Concept - Scalping Exercise.srt

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--|1 |00:00:11,010 ~-~-> 00:00:26,940 |ICT: Okay, folks, I give you a trading exercise. And this is something I did to become more consistent as a day trader. And if you put the time in doing this, I
--|2 |00:00:26,940 ~-~-> 00:00:36,870 |promise you, there's very few things I'm gonna promise. But this is one thing I can promise, your understanding about what the markets going to do on an
--|3 |00:00:36,870 ~-~-> 00:00:50,010 |intraday basis, a few times a week will drastically improve. Now, does that mean profitability? No, because I cannot promise you profitability, I am promising
--|4 |00:00:50,010 ~-~-> 00:00:58,170 |you a greater understanding of what price action is going to most likely do a few times a week. And that's all you need to do very, very well, in speculation.
--|5 |00:00:58,320 ~-~-> 00:01:11,040 |So if I can take your attention back to the concept I gave you, in terms of using the daily chart, whenever we see a swing high, and as what was tweeted,
--|6 |00:01:11,400 ~-~-> 00:01:21,720 |this evening, on my Twitter account, the swing high, here, we have a high with a lower high to the left of it and a lower high to the right of it. Okay, once
--|7 |00:01:21,720 ~-~-> 00:01:31,620 |that takes place, we start looking for the lows to be violated. And every time you see the previous day's low, that's an opportunity for trade. Now, it's a
--|8 |00:01:31,620 ~-~-> 00:01:46,020 |scalping tactic. That means 2030 pips, just about every day, this gives you a setup. Now, it does not give you a setup every single day in the same pair. Now
--|9 |00:01:46,020 ~-~-> 00:01:56,700 |it can be multiple examples of it in the same pair. But what I stated was, it can give you a set up every single trading day, because some pair across all the
--|10 |00:01:56,700 ~-~-> 00:02:06,750 |universal pairs, it's available to us in forex, one of them is going to provide this. Now the chances of you being hit may or may not be there, okay. But if you
--|11 |00:02:06,750 ~-~-> 00:02:16,920 |follow one pair at most two pairs, you will have something to work with every single trading day, it does not mean to execute live funds, it just means that
--|12 |00:02:16,920 ~-~-> 00:02:25,500 |you can practice with it. Do not discount this exercise. If you're looking at it on the basis of it's only hindsight, because some of you are not going to be
--|13 |00:02:25,500 ~-~-> 00:02:35,970 |able to do this live, because you're on your job or your life circumstances don't permit the opportunity for you to sit in front of the charts and do it.
--|14 |00:02:36,300 ~-~-> 00:02:46,950 |But go back through the charts in an end of day capacity, and look and see if what I'm teaching you here tonight is in fact what goes on every single trading
--|15 |00:02:46,950 ~-~-> 00:02:57,990 |day. Okay. So I want to go back to this reference point here. This is where a swing highs formed. price starts taking down each individual daily low is
--|16 |00:02:57,990 ~-~-> 00:03:08,580 |violated until we get down to here. Then price reacts, trades up. Now this run here is like a railroad track type pattern. I probably should have already
--|17 |00:03:08,580 ~-~-> 00:03:17,100 |included that in the presentation, because it's gonna make it seem like I'm a follower of just candlestick patterns. But just understand that this pattern
--|18 |00:03:17,100 ~-~-> 00:03:31,680 |here did not take out the swing high. Okay. And soon as we traded below, this candles low right here comes in at 117 63. This is Sunday trading. And then
--|19 |00:03:31,740 ~-~-> 00:03:41,040 |today's trading on Monday, the market opens up it rallies up, forget about getting the high there was not necessary. We're focusing primarily on the New
--|20 |00:03:41,040 ~-~-> 00:03:49,710 |York session. And what we're going to be dealing is we're gonna be looking for where the market may reach for Well, we've already taken out Sunday's low, we've
--|21 |00:03:49,710 ~-~-> 00:03:58,950 |already taken out Friday's low. So what would be the next objective? This low right here. So that's our mark. Okay, or target. So if we think in terms of
--|22 |00:03:58,950 ~-~-> 00:04:07,560 |being a sniper, this is what we're gonna be targeting. Okay, this old low. Now, why am I saying that this is a target? Well think about it in terms of support
--|23 |00:04:07,560 ~-~-> 00:04:15,450 |resistance. Price in itself, showed a willingness to rally from that level. So we could probably say come back down to that level again, and maybe it might
--|24 |00:04:15,450 ~-~-> 00:04:30,330 |bounce. Or maybe you'll go through it. No one absolutely knows this. But if price is above it. If price is above that low, and it's also bearish, then we
--|25 |00:04:30,330 ~-~-> 00:04:40,830 |can look for that low to be traded to as a minimum objective. So how much of a range that allows us is always going to be largely depend upon individual unique
--|26 |00:04:40,830 ~-~-> 00:04:52,500 |setups, the larger of the ranges, the better the setup. So I'm gonna give you a exercise. And we're going to map this out here with this particular trial and
--|27 |00:04:52,500 ~-~-> 00:05:04,710 |maximize it. And we're going to go into a 15 minute time frame and what I want you to do is I want you to think about how price was reaching for that level
--|28 |00:05:04,710 ~-~-> 00:05:10,860 |down here. It's 117 29. That's it that is right there. Okay, that's that old daily low or
--|29 |00:05:10,890 ~-~-> 00:05:20,730 |Target or as I refer to it as the mark, okay, as a sniper. So we're looking for that low to be retested. In this case, it went through just a little bit, and
--|30 |00:05:20,730 ~-~-> 00:05:28,500 |that's fine. It could very easily just stop right before hitting it. And then just as well, doesn't have to always go through it. Now, admittedly, I thought
--|31 |00:05:28,500 ~-~-> 00:05:37,110 |that we could possibly go through that as an objective today. And I was allowing the trade that I took to potentially pay that out to me, should it yield that
--|32 |00:05:37,110 ~-~-> 00:05:47,430 |much of a move below it? But it didn't. And I actually fell asleep and didn't even have myself alert at the time to take off something at the market. Okay, I
--|33 |00:05:47,430 ~-~-> 00:05:59,100 |had to collapse a portion of it. Once it had come back above the low over here, allow me to get right at the first objective in our fib for scaling, but other
--|34 |00:05:59,100 ~-~-> 00:06:10,650 |than that, that was the best I could do. And here it is. So you can see I'm human. But I want you to look at how every day if we're expecting bearishness,
--|35 |00:06:10,710 ~-~-> 00:06:22,710 |okay, if we're expecting lower prices, what I want you to do is every day that you're bearish rate before seven o'clock in the morning, New York time, okay, I
--|36 |00:06:22,710 ~-~-> 00:06:31,620 |want you to to kind of like take a look at what the markets doing, if you're bearish. And we'll say that we were bearish here on Friday. Okay. Now in this
--|37 |00:06:31,680 ~-~-> 00:06:41,910 |regard, I'm speaking specifically in light of hindsight only. Okay, so I have to tell you that this because I'm talking about in hindsight here doesn't mean it's
--|38 |00:06:41,910 ~-~-> 00:06:51,000 |going to be as it is in this chart, but it's going to be very close to it in theme, okay, it's going to have a lot of similarities to it. And you'll, you'll
--|39 |00:06:51,000 ~-~-> 00:07:00,540 |see what I mean by that in a minute. Okay, what I've done is, I've added seven o'clock in the morning, my vertical line here on each respective trading day in
--|40 |00:07:00,540 ~-~-> 00:07:14,730 |the last few days, and also needed the previous day's lows. So now I'm going to do is remove the vertical line delineations that's seen in the chart, and only
--|41 |00:07:14,730 ~-~-> 00:07:24,210 |leave the seven o'clock in the morning, New York time reference points. Alright, so now what we have here is we have some these trading here, Friday's low right
--|42 |00:07:24,210 ~-~-> 00:07:37,410 |in here. And here's Thursday's trading over here. So we're going to look at what we have, in terms of a drill or exercise we can do every single trading day. But
--|43 |00:07:37,410 ~-~-> 00:07:44,820 |you have to first know, what you're looking for in terms of bias now doesn't mean you gotta be right every day, it just means that you have to work in this
--|44 |00:07:44,970 ~-~-> 00:07:54,270 |framework, know what is most likely going to be the directional bias today, based on what the daily charts shown, is it going to be running to lows or it's
--|45 |00:07:54,270 ~-~-> 00:08:02,370 |gonna be running the highs if we are bearish and we're gonna assume that today we were bearish. And for folks that are in my mentorship group, we had already
--|46 |00:08:02,370 ~-~-> 00:08:12,900 |mapped out a probable scenario and in terms of my commentary with them, so they know that this was the most likely scenario going forward for Euro at least
--|47 |00:08:12,900 ~-~-> 00:08:24,030 |using my concepts, but most of you that are watching don't have that availability. So I'm going to give you a very simple approach using what we have
--|48 |00:08:24,030 ~-~-> 00:08:35,610 |already arrived that since I've been back on social media and YouTube, the element of looking for optimal trade entries in a day. Okay, am I more bearish I
--|49 |00:08:35,610 ~-~-> 00:08:42,870 |want you to focus on seven o'clock in the morning then we take the day dividers off now so that we can focus primarily on seven o'clock in the morning each
--|50 |00:08:42,870 ~-~-> 00:08:54,240 |individual trading day. So here's Friday's trading in here, okay and Friday's trading I want you to notice we came back up to this low right here today
--|51 |00:08:54,270 ~-~-> 00:09:08,760 |intraday. Now this level many times would not be even considered with standard support resistance ideas. But this level here is important because it's a swing
--|52 |00:09:08,760 ~-~-> 00:09:16,800 |high to swing low. And we mentioned in the what series whatever we knew and aspiring forex trader wants to know we have to use these reference points
--|53 |00:09:16,800 ~-~-> 00:09:33,570 |because they may end up becoming reused in the future. Okay, so also want to again, add dividers again. You can see that this is Friday's daily low. Here's
--|54 |00:09:33,570 ~-~-> 00:09:42,180 |Sunday's trading, we made it a lower low on Sunday and then we started trading on Monday higher and take that back off. And we had a little bit of a gap in
--|55 |00:09:42,180 ~-~-> 00:09:50,940 |here and you'll learn about that that's this is whiplash and then catapult. Okay, very simple little padding for Sunday. I don't trade it anymore. It's nice
--|56 |00:09:50,940 ~-~-> 00:10:04,890 |to see when it occurs but it's not that big of a deal. But I want you to see how that seven o'clock in the morning. When is mt four platform is demo account 1100
--|57 |00:10:04,980 ~-~-> 00:10:07,200 |is seven o'clock in the morning New York time.
--|58 |00:10:08,519 ~-~-> 00:10:17,819 |I want you to at that moment, wake up, check your your charts, you can do it on your smartphone. And if you're bearish you're gonna be looking for price to
--|59 |00:10:17,819 ~-~-> 00:10:30,239 |rally up at least 20 pips or more. Okay, if it does this and you're bearish then what you want to do is you want to anchor a previous high to the low prior to
--|60 |00:10:30,239 ~-~-> 00:10:41,999 |that seven o'clock in the morning rally up at least 20 pips. Okay, when you see that start hunting optimal trade entry shorts. In this case, we can zoom in a
--|61 |00:10:41,999 ~-~-> 00:10:53,759 |little bit. Here seven o'clock in the morning today, Monday, October 23 2017. The market shows an initial decline. We're not looking for that. We want to see
--|62 |00:10:53,759 ~-~-> 00:11:06,479 |it start to rally up 20 pips, what is it doing? It's retracing intraday on a day that's primarily bearish. And the high was set during what time of day is this?
--|63 |00:11:07,919 ~-~-> 00:11:18,029 |It's exactly two o'clock in the morning New York time. What did I say? In my videos regarding pi the day, here's Monday's trading it trades up creates a very
--|64 |00:11:18,029 ~-~-> 00:11:24,929 |high the day, between two o'clock and four o'clock in the morning, New York time. That's the high of Today. It trades down after seven o'clock in the
--|65 |00:11:24,929 ~-~-> 00:11:36,389 |morning, you want to see a rally up of 20 pips or more, but not take out the London high. Okay, it has to get close proximity to the high but only up to 79
--|66 |00:11:36,389 ~-~-> 00:11:46,859 |cent treatment level. So if we look at that, we can see that relationship between the open down to the lowest body candle right here prior to this rally
--|67 |00:11:46,859 ~-~-> 00:12:00,179 |up. Now this is equal this open and as close as equal 117 35. But price trades right back up to the 70.5 level. And it's also Fridays old Well, with a swing
--|68 |00:12:00,179 ~-~-> 00:12:06,929 |low. So it's a confluence of things happening right there. Now if you were to use the wicks, I just want to throw this in here for completeness sake, I don't
--|69 |00:12:06,959 ~-~-> 00:12:18,329 |advise doing this. But for comparison, you can do this and see, we still get exactly right to the 70.5 level precision, okay. Now, I don't require that for
--|70 |00:12:18,329 ~-~-> 00:12:26,699 |entries. I will allow myself to use the bodies of the candles and it'll get me close enough. But if you want to be nutcase about precision, you can get that
--|71 |00:12:26,699 ~-~-> 00:12:34,529 |surgical with it. Okay, you're going to miss some setups because your orders won't get filled. And that's going to be problematic for you. But that's the
--|72 |00:12:34,529 ~-~-> 00:12:44,999 |reason why I use the bulk of the volume with the bodies. Okay, so again, seven o'clock in the morning, which is my platform here for my demo. It's 1100 so when
--|73 |00:12:44,999 ~-~-> 00:12:54,929 |it rallies up 20 pips? Well, we have 1735. So that would mean to go up to at least 1755 it does that here and it does it here. It has to do that and find an
--|74 |00:12:54,929 ~-~-> 00:13:02,699 |overlapping of optimal trade entry, which it does here. So at least 62% retracement level and a 23rd rally after seven o'clock in morning New York time
--|75 |00:13:02,729 ~-~-> 00:13:14,729 |in a bearish day anchor to London high optimal trade entry short What are you targeting intraday low, and then the next daily low? Okay. And you can see, as I
--|76 |00:13:14,729 ~-~-> 00:13:32,099 |showed on the video earlier 117 25 gets us really close to that level, the actual low here on this platform in the pop up here, low comes in at 117 25.
--|77 |00:13:32,909 ~-~-> 00:13:42,569 |This fib takes us down to like 117 24. And just for completeness sake, I'll put this back up here like that. And down here like that. So if it's on the wicks,
--|78 |00:13:42,689 ~-~-> 00:13:51,689 |we are really far away in that target then, but using the bodies, it gets us much closer to the objectives that as I outlined just now. Now everything I've
--|79 |00:13:51,689 ~-~-> 00:13:59,549 |just said here you would reverse when it's bullish. You would expect a retracement lower after seven o'clock in the morning and expect that run higher.
--|80 |00:13:59,639 ~-~-> 00:14:08,459 |And again this is a scalping technique. It's for something like 2030 pips type move intraday couple times a week, but that's all you need. Remember 23 pips,
--|81 |00:14:08,489 ~-~-> 00:14:17,609 |risking 2% of your account can make a double of your account or basically double your account records every year. So if you found this insightful until next
--|82 |00:14:17,609 ~-~-> 00:14:19,379 |time, I wish you good luck and good trading
++1
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++ICT: Okay, folks, I give you a trading exercise. And this is
++2
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++something I did to become more consistent as a day trader.
++
++3
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++And if you put the time in doing this, I promise you,
++
++4
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++there's very few things I'm going to promise. But this is
++
++5
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++one thing I can promise. Your understanding about what the
++
++6
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++markets going to do on an intraday basis, a few times a week
++
++7
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++will drastically improve. Now, does that mean profitability?
++
++8
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++No, because I cannot promise you profitability. I am
++
++9
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++promising you a greater understanding of when price action
++
++10
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++is going to most likely do a few times a week and that's all
++
++11
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++you need to do very, very well in speculation. So If I can
++
++12
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++take your attention back to the concept I gave you in terms
++
++13
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++of using the daily chart, whenever we see a swing high and
++
++14
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++as what was tweeted this evening on my Twitter account, the
++
++15
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++swing high here we have a high with a lower high to the left
++
++16
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++of it a lower high to the right of it. Okay, once that takes
++
++17
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++place, we start looking for the lows to be violated. And
++
++18
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++every time you see the previous day's low, that's an
++
++19
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++opportunity for trade. Now, it's a scalping tactic. That
++
++20
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++means 2030 pips just about every day. This gives you a
++
++21
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++setup. Now, it does not give you a setup every single day in
++
++22
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++the same pair. It can be multiple examples of it in the same
++
++23
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++pair, but what I stated was it can give you a setup every
++
++24
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++single trading day, because some pair across all the
++
++25
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++universal parents. It's available to us in forex. One of
++
++26
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++them is going to provide this. Now the chances you ping hit
++
++27
++00:02:04,380 ~-~-> 00:02:07,980
++may or may not be there, okay. But if you follow one pair at
++
++28
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++most two pairs, you will have something to work with every
++
++29
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++single trading day. It does not mean to execute live funds,
++
++30
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++it just means that you can practice with it. Do not discount
++
++31
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++this exercise. If you're looking at it in the basis of it's
++
++32
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++only hindsight, because some of you are not going to be able
++
++33
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++to do this live. Because you're under a job or your life
++
++34
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++circumstances don't permit the opportunity for you to sit in
++
++35
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++front of the charts and do it. But go back to the charts in
++
++36
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++in end of day capacity and look and see if what I'm teaching
++
++37
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++you here tonight is in fact what goes on every single
++
++38
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++trading day. Okay. So I want to go back to this reference
++
++39
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++point here. This is where a swing highs formed. price starts
++
++40
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++ticking down. Each individual daily low is violated until we
++
++41
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++get down to here. Price reacts, trades up. Now this run here
++
++42
++00:03:04,320 ~-~-> 00:03:08,310
++is like a railroad track type pattern. I probably should
++
++43
++00:03:08,310 ~-~-> 00:03:10,530
++have never included that in the presentation because it's
++
++44
++00:03:10,530 ~-~-> 00:03:12,630
++going to make it seem like I'm a follower of just
++
++45
++00:03:12,630 ~-~-> 00:03:17,100
++candlestick patterns. But just understand that this pattern
++
++46
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++here did not take out the swing high. Okay and soon as we
++
++47
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++traded below this candles low right here comes in at 117 63
++
++48
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++this is Sunday trading and then today's trading on Monday
++
++49
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++the market opens up it rallies up, forget about getting the
++
++50
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++Hi there was not necessary. We're focusing primarily on the
++
++51
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++New York session. And what we're going to be doing is we're
++
++52
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++gonna be looking for where the market may reach for Well,
++
++53
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++we've already taken out Sunday's low, we've already taken
++
++54
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++out Friday's low. So what will be the next objective, this
++
++55
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++low right here so that's our mark, okay, or target. So if we
++
++56
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++think in terms of being a sniper This is what we're gonna be
++
++57
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++targeting. Okay, this old low. Now why am I saying that this
++
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++is a target? Well think about it in terms of support
++
++59
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++resistance. Price in itself showed a willingness to rally
++
++60
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++from that level. So we could probably see it come back down
++
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++to that level again, and maybe it might bounce. Or maybe
++
++62
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++you'll go through it. No one absolutely knows this. But if
++
++63
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++price is above it, if prices above that low, and it's also
++
++64
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++bearish, then we could look for that low to be traded to as
++
++65
++00:04:32,850 ~-~-> 00:04:36,990
++a minimum objective. So how much of a range that allows us
++
++66
++00:04:37,440 ~-~-> 00:04:40,830
++is always going to be largely dependent on individual unique
++
++67
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++setups, the larger of the ranges, the better the setup. So
++
++68
++00:04:45,630 ~-~-> 00:04:49,470
++I'm going to give you a exercise and we're going to map this
++
++69
++00:04:49,470 ~-~-> 00:04:53,250
++out here. With this particular chart. I'm gonna maximize it
++
++70
++00:04:54,480 ~-~-> 00:04:59,310
++and we're going to go into a 15 minute time frame and what I
++
++71
++00:04:59,310 ~-~-> 00:05:02,850
++want you to do is I want you to think about how price was
++
++72
++00:05:02,850 ~-~-> 00:05:07,350
++reaching for that level down here. It's 117 29. That's what
++
++73
++00:05:07,350 ~-~-> 00:05:08,190
++that is right there.
++
++74
++00:05:08,310 ~-~-> 00:05:12,330
++Okay, that's that old daily low or Target or as I refer to
++
++75
++00:05:12,330 ~-~-> 00:05:16,890
++it as the mark. Okay as a sniper. So we're looking for that
++
++76
++00:05:16,920 ~-~-> 00:05:19,890
++low to be retested. In this case, it went through it just a
++
++77
++00:05:19,890 ~-~-> 00:05:23,010
++little bit, that's fine. It could very easily just stop
++
++78
++00:05:23,010 ~-~-> 00:05:26,340
++right before hitting it and open just as well. Doesn't have
++
++79
++00:05:26,340 ~-~-> 00:05:28,740
++to always go through it. Now, admittedly, I thought that we
++
++80
++00:05:28,740 ~-~-> 00:05:31,620
++could possibly go through that as an objective today. And I
++
++81
++00:05:31,620 ~-~-> 00:05:35,070
++was allowing the trade that I took to potentially pay that
++
++82
++00:05:35,070 ~-~-> 00:05:39,150
++out to me, should it yield that much of a move below, but it
++
++83
++00:05:39,150 ~-~-> 00:05:43,530
++didn't, and I actually fell asleep and didn't even have
++
++84
++00:05:43,530 ~-~-> 00:05:46,530
++myself alert at the time to take off something at the
++
++85
++00:05:46,530 ~-~-> 00:05:50,550
++market. Okay. Classic portion of it. Once it had come back
++
++86
++00:05:50,550 ~-~-> 00:05:56,310
++above. The lower here, allow me to get right at the first
++
++87
++00:05:56,310 ~-~-> 00:05:59,880
++objective in our fib for scaling, but other than that, that
++
++88
++00:05:59,880 ~-~-> 00:06:03,030
++was The best I could do, and here it is. So you can see I'm
++
++89
++00:06:03,030 ~-~-> 00:06:08,880
++human. But I want you to look at how every day if we're
++
++90
++00:06:09,150 ~-~-> 00:06:12,000
++expecting bearishness, okay, if we're expecting lower
++
++91
++00:06:12,000 ~-~-> 00:06:16,620
++prices. What I want you to do is every day that you're
++
++92
++00:06:16,620 ~-~-> 00:06:20,850
++bearish right before seven o'clock in the morning, New York
++
++93
++00:06:20,850 ~-~-> 00:06:24,300
++time, okay? I want you to tell it, like take a look at what
++
++94
++00:06:24,300 ~-~-> 00:06:28,620
++the markets doing, if you're bearish and we'll say that we
++
++95
++00:06:28,620 ~-~-> 00:06:32,730
++were bearish here on Friday. Okay. Now in this regard, I'm
++
++96
++00:06:32,760 ~-~-> 00:06:37,890
++speaking specifically in light of hindsight only. Okay, so I
++
++97
++00:06:37,890 ~-~-> 00:06:40,860
++have to tell you that this because I'm talking about in
++
++98
++00:06:40,860 ~-~-> 00:06:44,310
++hindsight here doesn't mean it's going to be as it is in
++
++99
++00:06:44,310 ~-~-> 00:06:47,490
++this chart, but it's going to be very close to it in theme,
++
++100
++00:06:47,730 ~-~-> 00:06:50,550
++okay. It's gonna have a lot of similarities to it. And
++
++101
++00:06:50,550 ~-~-> 00:06:52,320
++you'll, you'll see what I mean by that in a minute. Okay,
++
++102
++00:06:52,320 ~-~-> 00:06:56,490
++what I've done is I've added seven o'clock in the morning,
++
++103
++00:06:56,790 ~-~-> 00:07:00,810
++my vertical line here on each respective trading day last
++
++104
++00:07:00,810 ~-~-> 00:07:06,090
++few days, and also noted the previous day's lows. So now I'm
++
++105
++00:07:06,090 ~-~-> 00:07:11,550
++going to do is remove the vertical line delineations that's
++
++106
++00:07:11,610 ~-~-> 00:07:16,170
++seen in the chart and only leave the seven o'clock in the
++
++107
++00:07:16,170 ~-~-> 00:07:19,410
++morning, New York time reference points. Alright, so now
++
++108
++00:07:19,410 ~-~-> 00:07:22,680
++what we have here is we have some days trading here Friday's
++
++109
++00:07:22,680 ~-~-> 00:07:28,050
++low right in here. And here's Thursday's trading over here.
++
++110
++00:07:28,650 ~-~-> 00:07:34,860
++So we're going to look at what we have in terms of a drill
++
++111
++00:07:34,860 ~-~-> 00:07:37,740
++or exercise we can do every single trading day, but you have
++
++112
++00:07:37,740 ~-~-> 00:07:40,920
++to first know what you're looking for in terms of bias now
++
++113
++00:07:40,920 ~-~-> 00:07:43,020
++doesn't mean gonna be right every day. It just means that
++
++114
++00:07:43,170 ~-~-> 00:07:47,760
++you have to work in this framework, know what is most likely
++
++115
++00:07:48,240 ~-~-> 00:07:51,090
++going to be a directional bias today, based on what the
++
++116
++00:07:51,090 ~-~-> 00:07:54,180
++daily charts shown, is it going to be running the lows or
++
++117
++00:07:54,180 ~-~-> 00:07:57,540
++it's gonna be running the highs if we are bearish and we're
++
++118
++00:07:57,540 ~-~-> 00:08:00,600
++going to assume that today we were bearish and For folks
++
++119
++00:08:00,600 ~-~-> 00:08:04,260
++that are in my mentorship group, we had already mapped out a
++
++120
++00:08:04,260 ~-~-> 00:08:07,680
++probable scenario, and in terms of my commentary with them,
++
++121
++00:08:07,680 ~-~-> 00:08:11,070
++so they know that this was the most likely scenario going
++
++122
++00:08:11,070 ~-~-> 00:08:14,910
++forward for Euro, at least using my concepts, but most of
++
++123
++00:08:14,910 ~-~-> 00:08:18,750
++you that are watching don't have that availability. So I'm
++
++124
++00:08:18,750 ~-~-> 00:08:24,030
++going to give you a very simple approach using what we have
++
++125
++00:08:24,030 ~-~-> 00:08:27,210
++already arrived at since I've been back on social media and
++
++126
++00:08:27,210 ~-~-> 00:08:32,190
++YouTube, the element of looking for optimal trade entries in
++
++127
++00:08:32,190 ~-~-> 00:08:36,450
++a day. Okay, and when we're bearish, I want you to focus on
++
++128
++00:08:36,450 ~-~-> 00:08:39,000
++seven o'clock in the morning. Let me take the day dividers
++
++129
++00:08:39,000 ~-~-> 00:08:41,940
++off now sadly, you can focus primarily on seven o'clock in
++
++130
++00:08:41,940 ~-~-> 00:08:46,530
++the morning, each individual trading day. So here's Friday
++
++131
++00:08:46,560 ~-~-> 00:08:51,150
++trading in here, okay, and Friday's trading. I want you to
++
++132
++00:08:51,420 ~-~-> 00:08:54,840
++notice we came back up to this low right here today intraday
++
++133
++00:08:56,130 ~-~-> 00:09:01,980
++now this level many times would not be even considered with
++
++134
++00:09:01,980 ~-~-> 00:09:07,410
++standard support resistance ideas. But this level here is
++
++135
++00:09:07,410 ~-~-> 00:09:10,500
++important because it's a swing high to swing low. And we
++
++136
++00:09:10,500 ~-~-> 00:09:13,770
++mentioned in the went series with every new and aspiring
++
++137
++00:09:13,770 ~-~-> 00:09:16,560
++forester wants to know, we have to use these reference
++
++138
++00:09:16,560 ~-~-> 00:09:19,860
++points because they may end up becoming reused in the
++
++139
++00:09:19,860 ~-~-> 00:09:26,520
++future. Okay, so I also want to again, add dividers again.
++
++140
++00:09:28,290 ~-~-> 00:09:33,990
++You can see that this is Friday's daily low here Sunday's
++
++141
++00:09:33,990 ~-~-> 00:09:36,450
++trading, we made it a lower low on Sunday and then we start
++
++142
++00:09:36,450 ~-~-> 00:09:41,400
++trading on Monday higher and take that back off, and we had
++
++143
++00:09:41,400 ~-~-> 00:09:43,770
++a little bit of a gap in here and you'll learn about that
++
++144
++00:09:43,770 ~-~-> 00:09:48,030
++that's this is whiplash and then catapult. Okay, very simple
++
++145
++00:09:48,030 ~-~-> 00:09:50,670
++little pattern for Sunday. I don't trade it anymore. It's
++
++146
++00:09:50,670 ~-~-> 00:09:53,580
++nice to see when it occurs, but it's not that big of a deal.
++
++147
++00:09:55,020 ~-~-> 00:09:59,220
++But I want you to see how at seven o'clock in the morning
++
++148
++00:10:00,000 ~-~-> 00:10:05,880
++One is mt four platform this demo account 1100 is seven
++
++149
++00:10:05,880 ~-~-> 00:10:07,170
++o'clock in the morning New York time.
++
++150
++00:10:08,519 ~-~-> 00:10:13,379
++I want you at that moment. Wake up, check your your charts,
++
++151
++00:10:13,409 ~-~-> 00:10:16,259
++you can do it on your smartphone. And if you're bearish
++
++152
++00:10:16,289 ~-~-> 00:10:20,339
++you're going to be looking for price to rally up at least 20
++
++153
++00:10:20,339 ~-~-> 00:10:25,769
++pips or more. Okay, if it does this and you're bearish then
++
++154
++00:10:25,769 ~-~-> 00:10:28,979
++what you want to do is you want to anchor a previous high to
++
++155
++00:10:28,979 ~-~-> 00:10:32,009
++the low prior to that seven o'clock in the morning rally up
++
++156
++00:10:32,609 ~-~-> 00:10:37,499
++at least 20 pips. Okay when you see that start hunting
++
++157
++00:10:37,829 ~-~-> 00:10:41,999
++optimal trade entry shorts. In this case, we can zoom in a
++
++158
++00:10:41,999 ~-~-> 00:10:46,739
++little bit here seven o'clock in the morning today, Monday,
++
++159
++00:10:47,039 ~-~-> 00:10:52,109
++October 23 2017. The market shows an initial decline. We're
++
++160
++00:10:52,109 ~-~-> 00:10:55,769
++not looking for that we want to see it start to rally up 20
++
++161
++00:10:55,769 ~-~-> 00:10:59,969
++pips, what is it doing? It's retracing intraday on eight
++
++162
++00:10:59,999 ~-~-> 00:11:05,009
++That's primarily bearish and the high was set during but
++
++163
++00:11:05,429 ~-~-> 00:11:09,149
++what time of day is this? It's exactly two o'clock in the
++
++164
++00:11:09,149 ~-~-> 00:11:14,189
++morning New York time. What did I say in my videos regarding
++
++165
++00:11:14,249 ~-~-> 00:11:17,789
++pilot day, here's Monday's trading it trades up creates a
++
++166
++00:11:17,789 ~-~-> 00:11:20,069
++very high the day between two o'clock and four o'clock in
++
++167
++00:11:20,069 ~-~-> 00:11:23,039
++the morning New York time. That's the higher today. It
++
++168
++00:11:23,039 ~-~-> 00:11:25,619
++trades down after seven o'clock in the morning you want to
++
++169
++00:11:25,619 ~-~-> 00:11:30,419
++see a rally up of 20 pips or more, but not take out the
++
++170
++00:11:30,419 ~-~-> 00:11:35,219
++London high. Okay, it has to get close proximity to the high
++
++171
++00:11:35,249 ~-~-> 00:11:38,249
++but only up to 79 retracement level. So if we look at that
++
++172
++00:11:38,249 ~-~-> 00:11:43,889
++we can see that relationship between the open down to the
++
++173
++00:11:43,889 ~-~-> 00:11:47,369
++lowest body candle right here prior to this rally up. Now
++
++174
++00:11:47,369 ~-~-> 00:11:52,199
++this is equal this open and this closes equal 117 35 but
++
++175
++00:11:52,199 ~-~-> 00:11:57,239
++price trades right back up to the 70.5 level. And it's also
++
++176
++00:11:57,689 ~-~-> 00:12:02,279
++Fridays old well with us. Lowe says a confluence of things
++
++177
++00:12:02,279 ~-~-> 00:12:05,249
++happening right there. Now, if you were to use Wix, I just
++
++178
++00:12:05,249 ~-~-> 00:12:06,929
++want to throw this in there for completeness sake, I don't
++
++179
++00:12:06,989 ~-~-> 00:12:10,859
++advise doing this. But we're comparison, you can do this and
++
++180
++00:12:10,859 ~-~-> 00:12:15,389
++see, we still get exactly right to the 70.5 level precision,
++
++181
++00:12:15,779 ~-~-> 00:12:20,039
++okay? Now, I don't require that for entries. I will allow
++
++182
++00:12:20,039 ~-~-> 00:12:22,109
++myself to use the bodies of the candles and it'll get me
++
++183
++00:12:22,109 ~-~-> 00:12:24,929
++close enough. But if you want to be a nutcase about
++
++184
++00:12:24,989 ~-~-> 00:12:28,769
++precision, you can get that surgical with it, okay, you're
++
++185
++00:12:28,769 ~-~-> 00:12:31,259
++going to miss some setups because your orders won't get
++
++186
++00:12:31,259 ~-~-> 00:12:34,259
++filled. And that's going to be problematic for you. But
++
++187
++00:12:34,259 ~-~-> 00:12:38,339
++that's the reason why I use the bulk of the volume with the
++
++188
++00:12:38,339 ~-~-> 00:12:41,129
++bodies. Okay, so again, seven o'clock in the morning, which
++
++189
++00:12:41,129 ~-~-> 00:12:45,059
++is my platform here for my demo. It's 1100. So when it
++
++190
++00:12:45,059 ~-~-> 00:12:48,959
++rallies up 20 pips? Well, we have 1735. So that would mean
++
++191
++00:12:48,959 ~-~-> 00:12:52,019
++you have to go up to at least 1755. It does that here and it
++
++192
++00:12:52,019 ~-~-> 00:12:55,799
++does it here. It has to do that and find an overlapping of
++
++193
++00:12:55,799 ~-~-> 00:12:59,099
++optimal trade entry, which it does here. So at least 62%
++
++194
++00:12:59,099 ~-~-> 00:13:02,219
++retracement level and it's pit rally after seven o'clock in
++
++195
++00:13:02,219 ~-~-> 00:13:05,339
++New York time in a bearish day anchor to the London high
++
++196
++00:13:06,659 ~-~-> 00:13:09,359
++optimal trade entry short What are you targeting? intraday
++
++197
++00:13:09,359 ~-~-> 00:13:14,729
++low, and then the next daily low. Okay. And you can see as I
++
++198
++00:13:14,729 ~-~-> 00:13:22,919
++showed on the video earlier 117 25 gets us really close to
++
++199
++00:13:23,219 ~-~-> 00:13:29,639
++that level, the actual low here on this platform, I'm going
++
++200
++00:13:29,639 ~-~-> 00:13:33,899
++to pop up here low comes in at 117 25. This fib takes us
++
++201
++00:13:33,899 ~-~-> 00:13:38,609
++down to like 117 24. And just for completeness sake, I'll
++
++202
++00:13:38,609 ~-~-> 00:13:41,639
++put this back up here like that. And down here like that. So
++
++203
++00:13:41,639 ~-~-> 00:13:44,789
++if it's on the wicks, we are really far away in that target
++
++204
++00:13:44,789 ~-~-> 00:13:47,999
++then, but using the bodies, it gets us much closer to the
++
++205
++00:13:48,059 ~-~-> 00:13:51,689
++objectives that I outlined just now. Now everything I've
++
++206
++00:13:51,689 ~-~-> 00:13:53,969
++just said here, you would reverse when it's bullish, you
++
++207
++00:13:53,969 ~-~-> 00:13:56,819
++would expect a retracement lower after seven o'clock in the
++
++208
++00:13:56,819 ~-~-> 00:14:00,299
++morning and expect that run higher and again This is a
++
++209
++00:14:00,299 ~-~-> 00:14:04,289
++scalping technique. It's for something like 2030 pips type
++
++210
++00:14:04,289 ~-~-> 00:14:07,139
++move intraday couple times a week, but that's all you need.
++
++211
++00:14:07,139 ~-~-> 00:14:11,159
++Remember 23 pips, risking 2% of your account can make a
++
++212
++00:14:11,189 ~-~-> 00:14:14,579
++double of your account or basically double your account over
++
++213
++00:14:14,579 ~-~-> 00:14:17,129
++a course of a year. So hopefully you found this insightful.
++
++214
++00:14:17,159 ~-~-> 00:14:19,379
++Until next time, I wish you good luck and good trading.

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